Annual report pursuant to Section 13 and 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.23.1
STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Grants Activity The following schedule shows stock grant activity for the years ended December 31, 2022 and 2021:
Number of
Shares
Grants unissued as of December 31, 2020 118,889
Grants awarded 157,413
Forfeiture/cancelled — 
Grants vested (122,629)
Grants unissued as of December 31, 2021 153,673
Grants awarded 542,584
Forfeiture/Cancelled (139,226)
Grants vested (62,172)
Grants unissued as of December 31, 2022 494,859
Schedule of Vesting Periods
The following table summarizes stock grant vesting periods:
Number of
Shares
Unrecognized Stock
Compensation Expense
As of December 31,
336,800 $ 1,150,112  2023
158,059 518,530  2024
494,859 $ 1,668,642 
The following table summarizes stock option vesting periods under the Incentive Plans:
Number of
Shares
Unrecognized Stock
Compensation Expense
As of December 31,
39,089 $ 167,358  2023
11,648 39,044  2024
50,737 $ 206,402 
Schedule of Stock Option Activity
The following schedules show stock option activity for the years ended December 31, 2022 and 2021:
Number of
Shares
Weighted Average Remaining
Life (Years)
Weighted Average
Exercise
Price
Stock options outstanding as of December 31, 2020 638,278 7.25 $ 6.49 
Issued 76,003 4.00 $ 6.00 
Exercised (4,777) $ 6.78 
Expired (68,167) 4.31 $ 7.89 
Stock options outstanding at December 31, 2021 641,337 7.55 $ 6.27 
Stock options exercisable at December 31, 2021 493,724 7.69 $ 6.46 
Number of
Shares
Weighted Average Remaining
Life (Years)
Weighted Average
Exercise
Price
Stock options outstanding as of December 31, 2021 641,337 7.55 $ 6.27 
Issued 76,246 9.00 $ 10.48 
Exercised (4,555) $ 6.00 
Expired (43,640) 6.25 $ 6.04 
Stock options outstanding at December 31, 2022 669,388 7.85 $ 6.77 
Stock options exercisable at December 31, 2022 618,651 6.74 $ 6.30